The legal framework for the carbon market is gradually being finalized.

The roadmap towards a carbon market in Vietnam is gradually being finalized, creating positive opportunities for the Vietnamese business community to expand export markets.

Expedite the legal framework for the carbon market.

On April 17th, the forum "Improving Policies and Enhancing Business Capacity to Participate in the Carbon Market" was held in Hanoi. The event was organized by the Vietnam Federation of Commerce and Industry (VCCI) with the support and technical assistance of international partners, the Australian Department of Foreign Affairs and Trade (DFAT), and the Aus4Growth Program. The program was implemented by the Business Forum Magazine and the Institute of Technology and Business Innovation - VCCI.

Mr. Hoang Quang Phong speaks at the forum. Photo: NH

According to information presented at the forum, in order to fulfill international commitments on climate change response and achieve net-zero emissions by 2050, the Government has been gradually improving the legal framework for greenhouse gas emission reduction and carbon market development, such as Decree No. 06/2022/ND-CP and Decree No. 119/2025/ND-CP amending and supplementing some articles of Decree No. 06/2022/ND-CP on greenhouse gas emission reduction and ozone layer protection; Decree No. 232/2024/ND-CP on the development of the domestic carbon market...

These documents have laid an important legal foundation for the formation and operation of the carbon market and defined the responsibilities of relevant agencies, organizations, and businesses.

Regarding the legal framework in Vietnam for the carbon market, Mr. Pham Nam Hung, representative of the Climate Change Department ( Ministry of Agriculture and Environment ), stated that Vietnam has a Law on Environmental Protection enacted in 2020, with decrees, decisions, and circulars under it. Notable examples include Decree No. 29/2026/ND-CP on the domestic carbon exchange and Decree No. 112/2026/ND-CP on the international exchange of greenhouse gas emission reduction results and carbon credits.

Speaking at the forum, Mr. Lachlan Simpson, Counsellor at the Australian Embassy and representative of the Department for Climate Change, Energy, Environment and Water (DCCEEW - Australia), stated that: In the context of major global markets proactively adopting regulations to reduce carbon emissions, developing a carbon market is considered a core element of the global economic system.

"Developing a carbon market is not only about climate issues but also about financial mechanisms and the sustainable development of the business community," Lachlan Simpson affirmed.

Recognizing the role of the carbon market, according to Mr. Hoang Quang Phong - Vice Chairman of VCCI, the roadmap towards a carbon market in Vietnam is being accelerated with the legal framework gradually being completed. A carbon market is not just a place where we pay fees for emissions, but also a place to honor pioneering businesses in clean technology. A carbon credit is created as a result of innovation, a testament to effective governance, and a valuable economic asset.

"Participating in the carbon market helps businesses optimize operating costs through energy savings, enhance brand value and reputation in the international market, and access green financing from international organizations," Mr. Hoang Quang Phong informed.

Experts discuss at the forum. Photo: NH

To develop the carbon market, businesses need to be proactive.

Speaking at the forum, experts also affirmed that the roadmap towards a carbon market in Vietnam is being accelerated with increasingly stringent legal frameworks, which will facilitate businesses' participation in the market.

Based on his experience developing the carbon market in Australia, Lachlan Simpson believes that perfecting the legal framework for the carbon market is crucial. A well-developed policy will build confidence for the sustainable development of the carbon market.

However, in addition to improving mechanisms and policies, according to Mr. Do Thanh Lam - Representative of the Legal Department - Ministry of Finance, businesses need to proactively update regulations related to the carbon market.

Specifically, for businesses allocated greenhouse gas emission quotas or holding carbon credits, Mr. Do Thanh Lam suggested that they need to understand the relevant legal regulations. Along with that, they should develop a plan for managing greenhouse gas emission quotas and carbon credits, and proactively enhance their capacity to participate and their trading strategies to optimize compliance costs…

For businesses (without allocated quotas/carbon credits) that wish to participate in the market, Mr. Do Thanh Lam suggests that they should select relevant legal regulations and proactively research the market to develop a suitable investment strategy.

To support the business community in understanding the carbon market, according to Mr. Hoang Quang Phong, in Decision No. 232/QD-TTg and Announcement No. 35/TB-VPCP, the Government has entrusted the Vietnam Federation of Commerce and Industry to lead and coordinate with ministries and agencies, especially the Ministry of Agriculture and Environment, to strengthen activities in disseminating information, training, and educating businesses on accessing the carbon market. Along with this, the business community is mobilized to conduct greenhouse gas inventories and promote international connections to achieve carbon neutrality.

Accordingly, the forum "Improving policies and enhancing the capacity of businesses to participate in the carbon market" was organized to help businesses understand the rules of the game during the pilot phase, as well as access international mechanisms related to the carbon market.

The legal framework for the carbon market in Vietnam is being finalized, creating a foundation for operation and opening up opportunities for businesses to optimize costs, access green finance, and enhance competitiveness.

Source: https://congthuong.vn/hanh-lang-phap-ly-cho-thi-truong-carbon-dang-dan-hoan-thien-452466.html